Polares Medical has closed a US$50 million series C financing, proceeds of which will be used to fund clinical studies in the USA, Europe and Australia for its MRace posterior leaflet replacement (PLR) system for mitral regurgitation (MR).
Polares is targeting the population of patients suffering from mitral regurgitation, a heart valve disease, particularly those with secondary MR, a condition commonly treated with transcatheter edge-to-edge repair (TEER).
While TEER has transformed the treatment landscape, anatomical complexity can limit applicability in certain patients. The MRace posterior leaflet replacement system is designed to expand transcatheter treatment options across a broad spectrum of mitral anatomies, simplify the procedure, and preserve future treatment pathways.
“We believe posterior leaflet replacement represents a new chapter in transcatheter mitral therapy,” said Jacques R Essinger, CEO of Polares Medical. “With over 70 patients of clinical experience and encouraging one-year data demonstrating sustained safety and efficacy, we have established a strong foundation for MRace. This financing positions us to advance the treatment paradigm for complex mitral regurgitation.”
The financing builds on accelerating clinical momentum for MRace, which has now been implanted in more than 70 patients, the company says in a press release. The financing was achieved with participations from DC Global Ventures, Lumination Partners, existing investors, and a new strategic investor.
“Polares is addressing one of structural heart’s largest and most important markets with a differentiated approach,” said Min Cui, managing partner of DC Global Capital. “The MRace system has the ability to treat a broad range of patients and widen access to mitral valve interventions worldwide.”
